BetMakers has entered into a deal with Swopstakes to acquire its proprietary betting products, including technology and intellectual property. The agreement includes a payment of up to AUD$15m (GBP£8.1m/USD$11.3m) based on performance, in addition to an initial payment of AUD$634,750. CEO Todd Buckingham expressed excitement about the opportunity to adapt and integrate Swopstakes’ product for BetMakers’ clients, leveraging their global network for distribution and promotion.
As part of another agreement, BetMakers now owns the technology platform assets, websites, and databases of Form Cruncher, a business that provides racing data such as odds and speed ratings. The initial cash payment for the Form Cruncher assets was AUD$1m (GBP£544,895/USD$758,895), with the potential for an additional performance payment of up to AUD$1m. Buckingham highlighted that this acquisition will enhance their core business and allow for the expansion of their product offerings worldwide.
Last week, BetMakers successfully completed the acquisition of Sportech’s Global Tote brand, further strengthening their position in the market.
